Latest Business News Wires - Business Headlines


  • RBS's Citizens Financial unit files for IPO Monday, 12 May 2014 | 5:58 PM ET

    May 12- Citizens Financial Group Inc, the U.S. unit of the Royal Bank of Scotland, filed with U.S. regulators for an initial public offering of common stock that would raise about $100 million. Morgan Stanley, Goldman, Sachs& Co and JP Morgan are the lead underwriters for the IPO, the company said in a filing with the U.S. Securities and Exchange Commission on Monday.

  • But "it's quite likely it'll end up being a two-hour show on one night through most of its run," Fox Broadcasting Entertainment Chairman Kevin Reilly said on a conference call on Monday.

  • May 12- A Georgia couple who settled with General Motors Co last year over their daughter's fatal car crash linked to a faulty ignition switch has filed a new lawsuit against the automaker.

  • May 12- AT&T Inc is expected to offer about $100 per share for DirecTV, valuing the satellite TV provider at around $50 billion, Bloomberg reported, citing people familiar with the matter. Earlier in the day, the Wall Street Journal reported that AT&T is expected to strike a deal with DirecTV in as early as two weeks, citing sources.

  • Elizabeth Arden exploring options as sales plunge Monday, 12 May 2014 | 5:09 PM ET

    U.S. cosmetics company Elizabeth Arden Inc said it is evaluating strategic alternatives, sending its shares down 16 percent after the bell.

  • May 12- Rackspace Hosting Inc reported better-than-expected quarterly results as demand rose for its web-hosting services, and the company forecast current-quarter revenue above Wall Street estimates.

  • BEIJING, May 13- As relations between China and Japan plumb a new low, the descendants of hundreds of of Chinese men forced to work in wartime Japan are taking big, modern-day Japanese corporates to court. Japan invaded China in 1937 and ruled parts of it with a brutal hand for the next eight years.

  • OSAKA/ TOKYO, May 13- Moves towards legalising casinos in Japan have reignited a debate over the legal status of pachinko, with a potential new tax mooted for a $200 billion gaming industry that has existed for decades on the fringes of the law. With past links to organized crime, pachinko is not classified as gambling, which is illegal in Japan.

  • BEIJING, May 13- China's campaign against pollution and greenhouse gases is hitting early resistance in Guangdong province, where more than 60 manufacturers are holding back from a carbon market launched last year, saying the scheme is unfair and too costly.

  • DONETSK/SLAVIANSK, Ukraine, May 12- Pro-Moscow rebel leaders in eastern Ukraine called on Monday for their region to become part of Russia, the day after staging a referendum on self-rule, although Moscow stopped short of endorsing their bid for annexation.

  • Vantiv to buy Mercury Payment for about $1.65 bln Monday, 12 May 2014 | 4:45 PM ET

    May 12- Payment processor Vantiv Inc said it would buy Mercury Payment Systems LLC for about $1.65 billion from private equity firm Silver Lake Group LLC.

  • May 12- AT&T Inc is expected to strike a deal with DirecTV in as early as two weeks, the Wall Street Journal reported on Monday, citing sources. DirecTV is working with advisers including Goldman Sachs Group to evaluate a possible combination following a recent takeover approach, Reuters reported last week.

  • *Hillshire to buy Pinnacle Foods for $6.6 billion. Biogen Idec jumped 4.8 percent to $300.54 and TripAdvisor Inc rose 5.8 percent to $89.51. Now people are trying to pick up bargains, and some of those stocks have been going up, "said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

  • AMMAN, May 12- IMF chief Christine Lagarde urged Arab countries going through democratic change to phase out costly subsidy systems on Monday, but drew a cautious response from regional finance ministers wary of the social impact of such steps.

  • U.S. Senate panel sets Thursday vote on housing bill Monday, 12 May 2014 | 4:33 PM ET

    WASHINGTON, May 12- The Senate Banking Committee plans to vote on a U.S. housing finance reform bill on Thursday in what could be the last effort this year to move forward with legislation to wind down mortgage firms Fannie Mae and Freddie Mac. Tim Johnson, the Democrat who chairs the committee, and the panel's top Republican, Sen.

  • *Crude oil up on rising Ukraine tensions. NEW YORK, May 12- Global equity markets surged on Monday, with the Dow industrials and S&P 500 hitting record closing highs, as Wall Street advanced in a broad rally spurred Prices of U.S.

  • May 12- Rackspace Hosting Inc reported a 16 percent jump in quarterly revenue, helped by higher demand for its web-hosting services. The company's net income fell to $25.4 million, or 18 cents per share, in the quarter ended March 31, from $27 million, or 19 cents per share, a year earlier. Revenue rose to $421 million from $362.2 million.

  • Elizabeth Arden sales fall 20 percent Monday, 12 May 2014 | 4:11 PM ET

    May 12- U.S. cosmetics company Elizabeth Arden Inc reported a 20 percent decline in quarterly revenue, hurt by weak sales in its North American perfume business. Sales in North America fell 23 percent to $121.9 million in the third quarter.

  • NEW YORK, May 12- Crude oil futures rose on Monday as tensions in Ukraine prompted the European Union to widen sanctions, while Russia reiterated that it could cut off Kiev's natural gas supplies.

  • NEW YORK, May 12- The Dow and the S&P 500 ended at record highs on Monday while the Nasdaq rallied as shares of Internet and biotech shares advanced. The Dow Jones industrial average rose 112.13 points or 0.68 percent, to end unofficially at 16,695.47. The S&P 500 gained 18.17 points or 0.97 percent, to finish unofficially at 1,896.65.